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Mexico D.F. America Movil SAB, the largest debt issuer in Latin America last year, will reduce bond sales in 2011, after having satisfied their needs for long-term financing and an acquisition by 23 billion, said Chief Financial Officer the company.



"I do not foresee such exceptional operations," said CFO Carlos Garcia Moreno in a telephone interview. "Today we have a good liquidity position."



America Móvil, the largest mobile telephony throughout the Americas, will pay a thousand dollars 200 million in dividends this year and split its shares 2 for 1.



The Mexico-based company issued 8.500 million in bonds last year in Mexico and abroad, surpassing the total debt sold by state oil producer Petroleos Mexicanos, according to data compiled by Bloomberg.



García Moreno, 54, said he began meeting with banks on March 18 to replace a credit line of $ 2 billion to five years which expires in April by two lines of revolving credit syndicate of $ 2 billion each. One dollar will be online for three years and a half, and a line denominated in euros will be for five years, he said.



The credit lines will provide flexibility to America Movil, controlled by billionaire Carlos Slim, if acquisition opportunities arise or if the debt markets adjust, García Moreno said.



Bank of Tokyo-Mitsubishi UFJ Ltd., Mizuho Financial Group Inc., Banco Bilbao Vizcaya Argentaria SA, JPMorgan Chase Co., Intesa Sanpaolo SpA, Citigroup Inc. and Societe Generale have been involved in discussions.



Telmex Purchase



America Movil finalized last year by 23 billion acquisition of Telmex Internacional SAB and its holding company , Carso Global Telecom SAB, both controlled by Slim.



The purchase gave America Movil a majority stake in what was its parent company, Telefonos de Mexico SAB.



The company, which offered to shareholders of Telmex Internacional option to cash or shares, had to borrow to be prepared if a large portion of the shareholders accept cash, said Garcia Moreno.



The company spent 2000 additional 700 million between October and January to buy preferred shares of Net Serviços de Comunicação S.A., the cable TV operator in Brazil's largest. At the same time, America Movil was replacing the bonds falling due in the coming years for longer-term debt at fixed interest rates low, said Garcia Moreno.



Source: La Prensa.com